Business Intelligence (BI) also delivers useful insights to the human resources team. An HR lead systematic data analysis is fast coming to the fore. It is a fascinating technique that revolutionizes the HR landscape. The benefits of BI and analytics for human resources are
When decisions are based on hard facts derived from complex, extensive data rather than assumptions it is easier to improve decision making. HR department manages detailed employee data. They are able to access employee profiles, compensation issues, appraisal information and more. HR departments overcome the confidentiality issue by anonymizing data and implementing security measures. But when translated all the information into a usable form and used in screening better candidate.
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A workforce demographics can provide vital clues about the future, for example when a profile of an employee is aging. BI aid HR departments in adopting, surviving and thriving. It can also be used to link people with financial performance through intelligent analysis of key skill sets and demographics hence helping in meeting business targets.
Data analysis helps HR departments to spot and analyze sick leave trends. It aids fair remuneration based on performance, helping businesses tie in pay with strategic objectives. The detailed analysis highlights the best and worst performers giving valuable insight into promotion, training etc.
Self-service systems can offer HR department real-time information directly from HR data. These systems can provide with detailed absence and workforce dashboards. The systems allow integrated organization charting, perfect for designing process and strategy for change. Also, it is easy to create a roadmap for navigating further.
Last but not least, it encourages good communication and creative collaboration, they connect people and pinpoint alternative solutions in the absence of decision makers.